Crude oil prices ended higher as the dollar edged lower and upbeat Chinese export data boosted economic recovery hopes. The International Energy Agency, slightly revised up its global oil growth demand forecast, citing stronger-than-expected preliminary data from OECD nations, a day after the OPEC trimmed its 2010 world oil demand forecast by 10,000 bpd to 940,000 bpd. Now support for the crude is seen at 3495 and below could see a test of 3447. Resistance is now likely to be seen at 3584, a move above could see prices testing 3625.

Trading Ideas:

Crude trading range is 3447-3625.

Crude oil prices ended higher as the dollar edged lower

Crude oil is taking support at 3518 and resistance at 3572 level

IEA slightly revised up its global oil growth demand forecast

SELL CRUDE JUNE @ 3540-3550 SL 3568 TGT 3522-3502-3475.MCX